Following rifle speculations that the Federal Reserve may inject financial stimulus in the US economy, copper metal was seen moving up today. The metal got even support from the news that manufacturing in China, the largest copper user, may reduce at a slower pace.

It has been reported that copper for three-month delivery notched up to $125, or 1.4 %, to $8,845 a metric ton by 9:44 a. m. on the London Metal Exchange with prices getting a boost of as much as 1.5%. Even Copper for December delivery increased by 0.9% to $4.0105 a pound on the Comex in New York.

Earlier in this month, the central bank had said that U. S. economic growth was “considerably slower” than anticipated, thus a range of policy tools could be used to boost the economy.

Meanwhile, zinc futures prices shot up by 0.41 % to Rs 98.45 per kg today triggered by the positive speculations. It was seen at the Multi Commodity Exchange that zinc for delivery in August was trading higher by 40 paise, or 0.41 %, at Rs 98.45 per kg, with a business turnover of 2,841 lots.

It’s being claimed that stability in base metals on the London Metal Exchange (LME), backed by rise in demand in the spot market, has triggered the rise in zinc futures.